§ Mr. CohenTo ask the Secretary of State for the Environment, Transport and the Regions what is the latest estimated total cost for the construction of the Jubilee Line extension; and from what sources the funds will be derived. [63697]
§ Ms Glenda JacksonLondon Transport review Jubilee Line Extension cost estimates regularly. The latest issued estimate of final cost was £2.85 billion (derived from a536W review in August). LT is currently undertaking a cost review, in the light of the rephased programme for line opening.
The majority of the project (some £2 billion) has been funded by ring-fenced Government grant. Private sector contributions have also been secured from the developers of Canary Wharf, and British Gas. The remainder is being funded from within LT's overall finances. It is the responsibility of LT to control costs on the project. JLE costs are taken into account by the Government in deciding on the level of overall funding for LT.